Businesses received 77.7% of bank loans in Iran in Apr-Sep: CBI

Loans granted to the Iranian businesses accounted for 77.7% of all loans issued by the banking system in the country in the six months to September 21, according to the latest data by the Central Bank of Iran (CBI).

CBI figures published on Wednesday showed that owners of businesses, including real and legal persons, had received a total of 24,119 trillion rials ($38.9 billion) worth of loans from state and private banks in Iran in the first half of the calendar year that started in late March.

The figures showed that household loans in Iran had amounted to 6,920 trillion rials ($11.16 billion) in the six months to late September, accounting for 22.3% of the total loans issued over the period which amounted to 31,040 trillion rials (over $50 billion).

Working capital loans granted to all businesses in Iran topped 18,692 trillion rials in April-September with mining and manufacturing sector receiving the lion's share of 41.6%, showed the data.

The CBI said that the total loans issued to the mining and manufacturing sector in the country in the six months to late September had exceeded 9,200 trillion rials ($14.83 billion).

Small loans (loans below 3 billion rials or $4,830) accounted for 23.1% of all loans in the April-September period, while some 2,756 trillion rials, or 39.8% of the loans granted to households, went to purchases of personal appliances, the lender said.

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